From: www.foldvary.net
Economist Fred E. Foldvary puts forward an argument that basic income in the economy of the future should be based on sharing land rents equally, rather than taxing financial capital or capital goods.
Responding to an article in The Atlantic by Derek Thompson, Foldvary argues that if, under standard economic assumptions, all jobs are automated, landowners rather than capital-owners will be the big winners as the value of capital goods plummets and land rents are greatly boosted.
The solution is therefore to “equally distribute land rent as a basic income” and this would represent “the free-market rent-sharing triumph [of] leisure over labor,” argues Foldvary in his article on progress.org.
Fred E. Foldvary “There Will Always be Labor.” Progress.org, 9 August 2015
Derek Thompson, “A world without work.” The Atlantic, July/August 2015
